Miami – In late 2020, Congress passed the Consolidated Appropriations Act, 2021, a comprehensive US$900bn COVID relief stimulus package and a US$1.4tn omnibus bill. The bill provides payroll support program (“PSP”) funding for US passenger air carriers and aviation contractors, essentially creating a second round of PSP funding modeled on 2020’s CARES Act.
According to a report on MarketWatch.com, American Airlines Group Inc. (AA) disclosed Tuesday that it reached a Payroll Support Program Extension Agreement (PSP2) with the U.S. Treasury for an expected total of at least US$3.09bn. The company said it received the first installment of the PSP2 agreement (US$1.54bn) read more ⇒
Source:: “Airways Magazine”